Earlier today, Santiment, a market intelligence company, took to Twitter to provide some insight into the trading activity of investors in response to the present market conditions. According to the post, market participants are acting as if the market has already reached its high, and they are locking in their profits while they still believe they have the opportunity to do so. The Ethereum (ETH) price has reached its highest level since October 2021.
ETH is currently trading at $1,561.53, representing a loss for investors as the cryptocurrency witnessed a price decline of 0.37% over the past 24 hours. Throughout the same period, the price of the alternative cryptocurrency fluctuated between $1,594.04 and $1,529.57. In contrast, the value of the cryptocurrency has surged by almost 17% in the last week.
ETH’s 24-hour trade volume has climbed by more than 10 percent since yesterday, reaching an all-time high of $8,049,555,082 at the moment.